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Double-digit growth rates

Consumers are attracted to luxury fragrances for many of the same reasons as luxury fashion: quality, craftsmanship, and the emotional and aspirational elements for which these types of brands are known. Designer and artisanal fragrance brands account for over 80% of the sales revenue within the U.S. prestige fragrance market and boasted double-digit growth rates in 2023, according to Circana data. Similarly, 7-in-10 fragrance consumers are willing to pay more for higher concentrations, which are stronger, longer lasting, and higher priced.

— Read more in Why EDPs and Parfums Are Outperforming the Rest of the Fragrance Market at Beauty Packaging.

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